Nike Inc (NKE) announced a profit for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $1.05 billion, or $0.70 per share. This compares with $1.45 billion, or $0.94 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 10.4% to $11.589 billion from $12.939 billion last year.
Nike Inc earnings at a glance (GAAP) :
-Earnings (Q1): $1.05 Bln. vs. $1.45 Bln. last year.-EPS (Q1): $0.70 vs. $0.94 last year.-Revenue (Q1): $11.589 Bln vs. $12.939 Bln last year.
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